Peter Smith
Dogecoin (DOGE) crushed it in July with a massive 77% rally, breaking key resistance and setting up for potentially bigger moves ahead.
Dogecoin absolutely killed it in July, rocketing up 77% and leaving other memecoins in the dust. This wasn't just any ordinary pump – DOGE smashed through resistance levels that had been holding it back for months, and the technical setup suggests we might be seeing just the beginning.
The world's top memecoin finally broke free from a frustrating trading range between $0.142 and $0.25 that had been dragging on since March. When it finally popped above $0.25 on July 20th, trading volume went crazy – staying well above average for nearly two weeks straight. That's exactly what you want to see in a real breakout.
DOGE Price Technical Setup Looks Solid
Here's what makes this rally different: the breakout actually has legs. After months of sideways action (what traders call a "rectangle bottom"), DOGE finally made its move. Based on how these patterns typically play out, we're looking at a potential run to at least $0.33 – maybe even $0.357 if momentum keeps up.
Right now, DOGE is testing that old $0.285 resistance from February. If it can push through cleanly, the next real test comes at the psychological $0.4 level. That's where things could get interesting, since $0.4 was a major battle zone from November 2024 through January 2025.
For anyone thinking about jumping in, any dip back to $0.25 or $0.26 would probably be a decent entry point. Those levels should now act as support after the breakout.
DOGE Network Activity Shows Healthy Growth
What's encouraging is that the on-chain data backs up the price action. Network activity has been steadily picking up over the past month, but without the crazy spikes that usually signal a top. Daily active addresses are rising at a healthy pace – not the parabolic moves that scream "bubble."
The 365-day circulation metric has been ticking higher since May, which suggests new money is coming in while some long-term holders take profits. That's actually a good thing – it means the rally has fresh legs instead of just being driven by existing holders.
Transaction counts tell a similar story: steady growth without the manic activity you'd expect at a major top. All of this points to a rally that could have staying power rather than being a quick pump and dump.
The bottom line? DOGE's July performance wasn't just lucky timing. The technical breakout, combined with healthy network metrics, suggests this memecoin leader could keep climbing toward that $0.357 target over the next couple months. Just keep an eye on that $0.4 resistance – that's where the real test begins.
Peter Smith
